The International Islamic Liquidity Management Corp (IILM) has appointed Umar Oseni as its acting chief executive after the resignation of Abdoul Aziz Ba, the Malaysia-based organisation said on Wednesday. The IILM did not give a reason for the departure of Ba, who joined in 2011, saying only that Oseni would lead the organisation until the […]
The African Development Bank (AfDB) says that Africa loses about $50 billion annually to illicit financial flow in the continent. Mr Ebrima Faal, Director, AfDB, Nigerian office disclosed this at workshop on the Role of Parliament in Combating Illicit Financial Flows from Africa, on Tuesday in Abuja. “Estimates on Illicit Financial Flows are highly disparate […]
World Bank shareholders have approved an increase in the bank’s lending capacity after the United States backed a reform package that curbs loans and charges more for higher income countries like China. World Bank President Jim Yong Kim said neither China nor any middle income countries was happy about the prospect of paying more for […]
The Minister of Finance, Mrs. Kemi Adeosun has said Nigeria does not need the help of the World Bank in assessing its debts level. The minister said this while speaking with journalists at the ongoing spring meeting of the International Monetary Fund. “We don’t need the World Bank if they want to come and help […]
The European Investment Bank has finalised a $20 million equity stake in a new Nigerian-backed development bank set up to boost lending to small businesses and agriculture. The African Development Bank (AfDB) will also invest $50 million in the Development Bank of Nigeria, the two development lenders said in a statement. The new Nigerian bank […]
The President of the Senate Dr Bukola Saraki has departed for Washington DC to join other World leaders and economic experts at the spring meeting by the World Bank and International Monetary Fund (IMF). Saraki is billed to participate in the African Finance Forum organized by the Corporate Council on Africa. According to Bamikole Omishore, […]
The World Bank on Tuesday began the implementation of its Environmental and Social Framework (ESF) in Nigeria by organising a workshop. A statement sent to PREMIUM TIMES, signed by the Senior Communications Officer, Nigeria, Olufunke Olufon, disclosed that the workshop was organised to provide comprehensive understanding of the new environmental and social requirements the World […]